SNP urges corporation tax switch

Treasury spokesman Stewart Hosie tabled the amendments following the
chancellor’s visit to Northern Ireland, during which he did not rule out lower
corporation tax levels for the province.

The move follows calls from Ulster’s local parties and businesses for the
rates to be brought down from the current UK rate of 30% to the 12.5% of the
Republic of Ireland.

Hosie, who sits on the committee debating the finance bill, said: ‘Pressure
has been building in recent months in Northern Ireland for a range of fiscal
incentives, such as a cut in the rate of corporation tax. The chancellor has not
ruled out such a move. ‘With Scottish growth stubbornly below that of the UK, we
too would benefit from having the ability to encourage growth in Scotland with
lower corporation taxes. In fact, it is SNP policy.

‘The SNP wants Scotland to have the same opportunities as other independent
nations. With responsibility for all our finances, Scotland could start to match
the success of nations like Ireland, Norway and Finland.’

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